MSTI Holdings (NuVisions) Expands Service Offerings into Shore Condominium's North Tower at Newport on Jersey City's Hudson River Waterfront
Tuesday February 12, 8:00 am ET
HAWTHORNE, N.J.--(BUSINESS WIRE)--MSTI Holdings, Inc. (OTCBB: MSHI - News) or “MST”, a carrier class communications technology company that specializes in providing "quadruple play" services consisting of video, voice, Internet and Wi-Fi to multi-tenant unit and multi-dwelling unit residential, hospitality and commercial properties, announced today that its wholly-owned subsidiary, Microwave Satellite Technologies, Inc. (NuVisions™), has expanded its current customer base by offering its services to 220 apartment homes in the new North Tower of the Shore Condominium Residences at Newport.
Recently, NuVisions announced that it had extended its service offerings to 216 residential units in the South Tower, a sister building to the North Tower. Newport is a vast mixed-use community in Jersey City, N.J. being developed by the LeFrak Organization ("LeFrak"). NuVisions provides communications services to approximately 2,000 other Newport commercial and residential customers.
"We are pleased that MST has been selected to continue offering its services to another large residential building at Newport," said Frank T. Matarazzo, CEO, Microwave Satellite Technologies, Inc. “We look forward to providing our highly responsive customer service and diverse communications systems to residents of additional Newport properties in the coming years.”
Similar to the South Tower, the North Tower is a 28-story glass encased condominium, designed by the architectural firm of Page + Steele, on the Jersey City Hudson River Waterfront, consisting of one-and two-bedroom apartment homes, three-bedroom duplex apartment homes, four-bedroom triplex apartment homes, as well as penthouse residences. The building features luxurious construction and high-end private club amenities exclusively for condo owners. The North and South Towers are architecturally "connected" by a 7-story base, containing a street level supermarket and retail facilities, and a 6-level indoor parking garage for condo owners, shoppers, and visitors. The rooftop has tennis courts and a putting green. An ice skating rink is situated in a park-like oval setting near the shopping amenities.
“We are pleased that the North Tower condo owners can avail themselves of NuVision services," said Jamie LeFrak, Managing Director of the LeFrak Organization. "We believe these services are of the highest quality."
Newport currently consists of approximately 4,660 apartments; 5 million square feet of office space in eight modern buildings; 2 million square feet of retail shopping facilities, including a 1.2 million square foot Simon regional shopping mall; a 187-room business hotel; restaurants; parks; playgrounds; two private schools; one half mile section of the Hudson River Waterfront Walkway; a 180-slip marina; and on-site parking for more than 14,000 vehicles. When completed, the $10 billion Newport development will include another 4,500 apartment homes; a 429-room Westin Hotel, currently under construction; 2 million square feet of new office space; and another mile of Hudson River Waterfront Walkway, making it one of the largest mixed-use communities in the United States.
The LeFrak Organization is one of the nation's largest privately held diversified real estate companies. It is involved in the development of large scale mixed use communities, commercial and residential properties, on-site property management, as well as commercial interests in investment management, oil and gas exploration, and wind generated energy. Founded in 1901 - and headquartered in New York City - the LeFrak Organization has been acclaimed internationally for its commitment to responsible community development and environmental preservation.
About NuVisions
NuVisions, a trademark of Microwave Satellite Technologies, Inc., offers “quad play” services, including cable programming, Voice over Internet Protocol telephone (VoIP), high-speed Internet access, and Wi-Fi services to multi-dwelling unit properties in New York and New Jersey. For more information, please visit www.nuvisions.tv.
About MST Inc.
MST Inc., a wholly-owned subsidiary of MSTI Holdings, Inc., (MSHI.OB) is a communications technology company that specializes in video to the desktop, video conferencing, distance learning, two-way data, and Internet access services. MST Inc. offers complete sales, installation, and service of VSAT and business television networks, and is a full-service national Internet Service Provider (ISP), offering the latest in web hosting and design. MST Inc.’s NuVisions Broadband services offer cable television, cable modem high-speed Internet, and telephone services to multi-family residences, commercial buildings, and institutional owners. MST Inc. delivers its services using microwave and fiber optic technology for superior performance, and now offers over 500 television channels with more than 45 channels of high definition television (HDTV). MST Inc. has begun deployment of its new Interactive Wi-Fi, hot-zone system that will offer wireless Internet service in large geographic areas of New York City and Jersey City, and is introducing the newest Powerline Carrier (PLC) technology to high-speed Internet users in apartment buildings, hotels, and business environments. For more information, visit our websites at www.mst-online.com and www.nuvisions.tv.
Safe Harbor Statement
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client. Further information on potential factors that could affect the Company's financial results can be found in the Company's Report on Forms 8-K filed with the Securities and Exchange Commission (SEC).
Contact:
CEOcast, Inc.
Gary Nash, 212-732-4300
gnash@ceocast.com
or
Rubenstein Public Relations
Olga Shmuklyer, 212-843-8364
oshmuklyer@rubensteinpr.com
